Added code that actually adds an image texture.

ImageTextureTrial2.py

@@ -0,0 +1,22 @@
+# Link to the code from StackExchange: https://blender.stackexchange.com/questions/157531/blender-2-8-python-add-texture-image
+
+#Import python
+import bpy
+from bpy import context, data, ops
+
+
+mat = bpy.data.materials.new(name="New_Mat")
+mat.use_nodes = True
+bsdf = mat.node_tree.nodes["Principled BSDF"]
+texImage = mat.node_tree.nodes.new('ShaderNodeTexImage')
+texImage.image = bpy.data.images.load("C:\\Users\\satna\\OneDrive\\Desktop\\Programming\\Python\\Blender\\Blender-World-Generator\\DirtBlock.png")
+mat.node_tree.links.new(bsdf.inputs['Base Color'], texImage.outputs['Color'])
+
+ob = context.view_layer.objects.active
+
+# Assign it to object
+if ob.data.materials:
+    ob.data.materials[0] = mat
+else:
+    ob.data.materials.append(mat)
+